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TISO BLACKSTAR GROUP SE - Finalisation of disposal of 3.61% interest in Kagiso Tiso Holdings

Release Date: 15/06/2018 16:30
Code(s): TBG     PDF:  
Wrap Text
Finalisation of disposal of 3.61% interest in Kagiso Tiso Holdings

Tiso Blackstar Group SE
(Incorporated in England and Wales)
(Company number SE 110)
(registered as an external company with limited liability in the Republic of South Africa under registration
number 2011/008274/10)
JSE share code: TBG
ISIN: GB00BF37LF46
(“Tiso Blackstar” or the “Company”)


Finalisation of disposal of 3.61% interest in Kagiso Tiso Holdings Proprietary Limited (“KTH”)

Shareholders of Tiso Blackstar (“Shareholders”) are referred to the announcement dated 26 March 2018, in
terms of which the Company advised Shareholders that it had signed a share purchase agreement with KTH
and Kagiso Trust Strategic Investments Proprietary Limited (“Kagiso”) whereby Kagiso had conditionally agreed
to purchase 33,645 ordinary shares in KTH, held through its wholly owned subsidiary Tiso Blackstar Holdings
SE, constituting 3.61% of KTH’s issued ordinary share capital (excluding treasury shares),(the “KTH Partial Disposal”), 
for a cash purchase price of ZAR197.9 million.

Tiso Blackstar is pleased to advise Shareholders that effective 15 June 2018, the conditions precedent to the
KTH Partial Disposal have been met and the cash proceeds of ZAR197.9 million have been received by the
Company. The majority of the proceeds have been applied to repay group debt.

Following the implementation of the KTH Partial Disposal, the Company’s effective interest is 20.01% of the
issued ordinary shares of KTH (excluding treasury shares). A key part of Tiso Blackstar’s strategy is to exit its
non-core, non-media related assets. In line with this strategy, Tiso Blackstar is committed to a plan to
successfully realise this investment and negotiations are continuing in this regard.


London
15 June 2018



For further information, please contact:
Tiso Blackstar Group SE                              Leanna Isaac                        +44(0) 20 78876017
JSE Sponsor: One Capital                             Sholto Simpson                      +27(0) 11 550 5000

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